HomeMy WebLinkAbout07-02-07
IN THE MATTER OF THE
ESTATE OF
ALICE L. HOLMES,
DECEASED
: IN THE COURT OF COMMON PLEAS
: CUMBERLAND COUNTY, PENNSYLVANIA
: ORPHANS' COURT DIVISION
: No.: 00514 of 2006
ESTATE OF
GEORGE C. HOLMES,
DECEASED
FAMILY SETTLEMENT AGREEMENT
THIS AGREEMENT made this 'J'ftA day of April, 2007:
WIT N E SSE T H:
I. THE CIRCUMSTANCES leading up to the execution of this Agreemem are
as follows: So
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WHEREAS, George died testate on July 12, 1999, a domiciliarj.>:1>P
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Cumberland County, Pennsylvania. ;;:; ;~
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WHEREAS, George bequeathed his entire Probate Estate to A:liee<
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WHEREAS, George's Probate Estate consisted solely of the Note and N
Mortgage.
WHEREAS, on July 12, 1999, the fair market value fo the Note was
$138,741.44 ($138,159.05 principal and $582.39 interest = $138,741.44).
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WHEREAS, Alice failed to admit George's Will to the Register for probate.
WHEREAS, from July 12, 1999 to May 23,2006, Alice received and deposited
Allen's periodic Note payments.
WHEREAS, on May 23, 2006, the fair market value of the Note was
$107,003.38 ($106,607.90 principal and $395.48 interest = $107,003.38).
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WHEREAS, Alice died testate on May 23, 2006, a domiciliary of Cumberland
County, Pennsylvania.
WHEREAS, the Register appointed Marsheelah the Executor of both
George's Probate Estate and Alice's Probate Estate.
WHEREAS, at the time of her death, Alice resided with Marsheelah. Thus,
under Pennsylvania law, Marsheelah is entitled to the statutory Family Exemption
from Alice's Probate Estate.
WHEREAS, Alice bequeathed her tangible personal property and residuary
Probate Estate equally to Allen, Edward, Laurene and Marsheelah.
WHEREAS, the Executor has distributed Alice's tangible personal property
equally among Allen, Edward, Laurene and Marsheelah.
WHEREAS, the Executor has filed Alice's final Federal and Pennsylvania
individual income tax returns for 2006, and requested refunds for the overpayment
of taxes ($30 Federal and $75 Pennsylvania).
WHEREAS, the Executor made a $8,775 prepayment of Death Taxes in order
to receive a tax discount of approximately $455.
WHEREAS, the Executor has filed the Pennsylvania Inheritance Tax Return
for the taxable estate of Alice.
WHEREAS, the Executor overpaid the Death Taxes by $135.07, and has
requested a refund of such overpayment.
WHEREAS, at present, the Executor has not received the Commonwealth of
Pennsylvania's Notice of Appraisement and Assessment of Pennsylvania
Inheritance Tax in connection with Alice's Probate Estate (or, the requested refunds
of the overpayment of Death Taxes and individual income taxes).
WHEREAS, the Executor has filed (or, will file) the Pennsylvania Inheritance
Tax Return for the taxable estate of George. No inheritance tax is due, as transfers
to a surviving spouse were (and are) taxed at the 0% Pennsylvania inheritance tax
rate.
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WHEREAS, Alice's Legatees desire the Executor to distribute the balance of
Alice's residuary Probate Estate as set forth in the Proposed Final Distributions
(which is attached hereto as Exhibit "F", and incorporated herein by reference) prior
to receiving the Notices of Appraisement and Assessment of Pennsylvania
Inheritance Tax Return concerning the taxable estate of both Alice and George, and
wish to forever settle and compromise any and all claims and rights which they may
possess, now or hereafter, in Alice's Probate Estate and George's Probate Estate,
without the cost and delay of a court adjudication and confirmation of the
Executor's Account.
WHEREAS, the Executor is willing to make such a distribution and to so
terminate the administration of Alice's Probate Estate and George's Probate Estate
provided Alice's Legatees agree to the various reserves set forth in the Executor's
Account and provide the Executor with satisfactory release, refunding and
indemnification protections.
II. RECEIPT, RELEASE, REFUNDING AND INDEMNIFICATION
AGREEMENT:
NOW THEREFORE, in consideration of the foregoing and intending to be
legally bound, severally, Allen, Edward, Laurene and Marsheelah for themselves,
their heirs, personal representatives, successors, and assigns hereby do as follows,
to wit:
A. Represent and warrant that they have read and understand this
Agreement, including all the Exhibits thereto, and confirm that the
facts set forth above are true, correct and complete to the best of their
knowledge, information and belief, and incorporate them herein by
reference.
B. Represent they have entered into this Agreement by their own free will
and choice without any compulsion, duress or undue influence from
anyone.
C. Represent they have sought advice of an attorney, prior to executing
this Agreement or have voluntarily chosen not to consult an Attorney.
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D. Declare that they have had the opportunity to review the Executor's
Account (Exhibit "E"), and based upon an examination (or their
decision not to make such an examination), they are satisfied they
have sufficient information to make an informed waiver of their right
to a formal account, and do hereby waive the filing and auditing of
such accounts withlby the Pennsylvania Court.
E. Approve and direct the Executor to pay $3,500 to Marsheelah in
satisfaction of the statutory Family Exemption.
F. Approve and direct the Executor to pay $8,200 of commissions to
Marsheelah, as set forth in the Executor's Account, as compensation of
the services she performed as the personal representative of both
Alice's Probate Estate and George's Probate Estate.
G. Approve and direct the Executor to pay $8,200 of legal fees to KW AR,
as set forth in the Executor's Account, in payment of the legal services
it provided to the Executor in connection with both Alice's Probate
Estate and George's Probate Estate.
H. Approve and direct the Executor to assign the Note and Mortgage
equally to Allen, Edward, Laurene and Marsheelah, as Alice's
Legatees.
1. Accept and approve the Executor's Account (Exhibit "E" hereto),
examined or not, as if the same had been duly filed with and audited,
adjudicated and confirmed absolutely by the Pennsylvania Court.
J. Approve and direct the Executor to pay the reserves set forth in the
Executor's Account (Exhibit "E" hereto) to KW AR.
K. Approve the interim distributions described above and as set forth in
the Executor's Account (Exhibit "E" hereto).
L. Approve and direct the Executor to make the Proposed Final
Distributions as set forth in Exhibit "F" hereto, and acknowledge
receipt thereof in full satisfaction of their respective interests/shares in
Alice's residuary Probate Estate.
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M. Agree to refund, on demand, all or any part of the aforesaid
distributions, which has been determined by the Executor or by the
Pennsylvania Court, or by any court of competent jurisdiction to have
been improperly made.
N. Absolutely, unconditionally, and irrevocably release, remise and
forever discharge KW AR from any and all manner of actions, causes of
action, suits, liens, debts, dues, sums of money, accounts, reckonings,
bonds, bills, specialties, covenants, contracts, controversies,
agreements, promises, variances, trespasses, damages, judgments,
extents, executions, claims, demands, losses, costs and expense
whatsoever in law, admiralty or equity, in any way arising from or in
any way regarding the distributions described herein.
O. To the extent of the aforesaid distributions, Alice's Legatees hereby
agree to indemnify and hold harmless the Executor and their
respective heirs, personal representatives, successors and assigns,
from and against any and all claims, loss, liability or damage (whether
or not related to the negligence of the Executor) which they may suffer,
or to which they may be subjected by reason of their administration of
George's Probate Estate and Alice's Probate Estate to date, including
the Executor's Account attached hereto and the Proposed Final
Distributions described herein.
P. Absolutely, unconditionally, and irrevocably release, remise and
forever discharge the Executor from any and all manner of actions,
causes of action, suits, liens, debts, dues, sums of money, accounts,
reckonings, bonds, bills, specialties, covenants, contracts,
controversies, agreements, promises, variances, trespasses, damages,
judgments, extents, executions, claims, demands, losses, costs and
expense whatsoever in law, admiralty or equity, in any way arising
from or in any way regarding the distributions described herein.
Q. Agree that this Agreement constitutes the entire understanding
between the parties hereto concerning the subject matter hereof, and
supersedes any and all prior written agreements, and any and all prior
or contemporaneous oral agreement or understanding relating to the
subject matter.
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R. Agree that this Agreement may not be amended, modified, superseded,
canceled, renewed or extended, nor may any term or condition hereof
be waived, except by a written instrument or document signed by all
the parties hereto or, in the case of a waiver, signed by the party
sought to be charged therewith. No waiver by any party of the breach
of any provision hereof shall be deemed to constitute a waiver of any
continuing or subsequent breach' of such provision or any other
provision hereof. Except as otherwise provided herein, the rights and
remedies expressly granted hereunder shall be cumulative with
respect to, and shall not be deemed to exclude, any other rights and
remedies to which any party shall be entitled at law or in equity.
S. Agree that this Agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective heirs, successors,
assigns, personal representatives, and those who may hereafter claim
through any of the parties.
T. Agree that this Agreement shall be governed by and construed in
accordance with the laws of the Commonwealth of Pennsylvania,
without regard to choice-of-law provisions. The Pennsylvania Court
shall have exclusive jurisdiction over any action to enforce or interpret
the terms of this Agreement. The parties hereby consent to said
Pennsylvania Court exercising personal jurisdiction over them in any
suit or action arising out of the enforcement of this Agreement.
U. Agree that any refere~ces to persons or things shall be deemed to refer
to such persons or things in the singular or plural and in the
masculine, feminine or neuter gender as the context shall require.
V. Agree this Agreement shall be deemed to be severable, so that if any
provision hereof shall be determined by a court of competent
jurisdiction to be invalid or unenforceable, the remaining provisions
hereof shall continue to remain valid and enforceable in accordance
with their terms.
W. Agree this Agreement may be executed in multiple counterparts, each
of which may contain the signatures of one or more of the parties, all of
which, taken together, shall constitute one and the same document.
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X. Agree the following words and phrases when used in this Agreement
shall have the following meanings unless clearly indicated otherwise:
1. Alice. The term "Alice", means Alice L. Holmes who died testate on
May 23, 2006, a domiciliary of Cumberland County, Pennsylvania.
2. Alice's Legatees. The term "Alice's Legatees" refers collectively to the
following persons: Allen, Edward, Laurene and Marsheelah.
3. Alice's Will. The term Alice's Will refers collectively to Alice's Last
Will and Testament dated May 26, 1999 and Alice's First Codicil dated
April 3, 2006. A true and correct copy of Alice's Will is attached hereto
as Exhibit "A," and is incorporated herein by reference.
4. Allen. The term "Allen" means Allen K. Holmes, the son of George and
Alice.
5. Death Taxes. The term "Death Taxes" means Pennsylvania
inheritance tax which is owed as a result of Alice's death.
6. Edward. The term "Edward" means Edward A. Preston, the grandson
of George and Alice and son of Marsheelah.
7. Executor. The term "Executor" refers to Marsheelah, as the appointed
personal representative of both Alice's Probate Estate and George's
Probate Estate.
8. Executor's Account. The term "Executor's Account" means the First
and Final Account of the Executor's administration of George's Probate
Estate and Alice's Probate Estate, which is stated from May 23, 2006
to April 24, 2007. A copy of the Executor's Account is attached hereto
as Exhibit "E," and is incorporated herein by reference.
9. George. The term "George" means George C. Holmes, who died testate
on July 12, 2006, a domiciliary of Cumberland County, Pennsylvania.
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10. George's Will. The term "George's Will" refers to George's Last Will
and Testament dated May 26, 1999. A true and correct copy of
George's Will is attached hereto as Exhibit "B," and is incorporated
herein by reference.
11. Laurene. The term "Laurene" means Laurene L. Holmes Proudfoot,
the daughter of George and Alice.
12. Marsheelah. The term "Marsheelah" means Marsheelah M. Preston,
the daughter of George and Alice.
13. Mortgage. The term "Mortgage" refers to that certain mortgage which
Allen signed and dated December 31, 1998, in favor of George, securing
his obligation under the Note. A true and correct copy of the Mortgage
is attached hereto as Exhibit "D," and is incorporated herein by
reference.
14. Note. The term "Note" refers to that certain promissory note in the
amount of $140,000 which Allen signed and dated December 31, 1998,
in favor of George, and secured by Mortgage of the same date. A true
and correct copy of the Note is attached hereto as Exhibit "C," and is
incorporated herein by reference.
15. KWAR. The term "KWAR" means the law firm of Keefer, Wood, Allen
& Rahal, LLP, and its members and individual attorneys associated
therewith.
16. Pennsylvania Court. The term "Pennsylvania Court" means the
Orphans' Court Division of the Court of Common Pleas of Cumberland
County, Pennsylvania.
17. Probate Estate. The term "Probate Estate" means those assets which
are distributable to a decedent or to his or her successors, personal
representatives or heirs-at-Iaw.
18. Register. The term "Register" refers to the Register of Wills of
Cumberland County, Pennsylvania.
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IN WITNESS WHEREOF, Alice's Legatees and the Executor have
placed their hands and seals on the attached Consents to Family Settlement
Agreement.
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IN THE MATTER OF THE
ESTATE OF
ALICE L. HOLMES,
DECEASED
: IN THE COURT OF COMMON PLEAS
: CUMBERLAND COUNTY, PENNSYLVANIA
: ORPHANS' COURT DIVISION
: No.: 00514 of 2006
ESTATE OF
GEORGE C. HOLMES,
DECEASED
CONSENT TO FAMILY SETTLEMENT AGREEMENT
THE UNDERSIGNED, ALLEN K. HOLMES, hereby consents to and joins in this
Family Settlement Agreement (the "Agreement"), for the purposes expressed therein,
and acknowledges receipt of a copy of the Agreement and all Exhibits thereto.
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ALLEN K. HOLMES
COMMONWEALTH OF PENNSYLVANIA
: ss:
COUNTY OF CUMBERLAND
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On this d day of M A '( , 2007 before me, the undersigned
officer, personally appeared ALLEN K. HOLMES, known to me (or satisfactorily proven)
to be the person whose name is subscribed to the within instrument, and acknowledged
that he executed the same for the purposes therein contained.
IN WITNESS WHEREOF, I hereunder set my hand and official seal.
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Notary Public COMM- .
ONWEALTH Of PENNSYL\{Ar~i.
CHARLES NOTARIAl SEAl j
Camp HiII~':R~~ ~ary PUblici
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IN THE MATTER OF THE
ESTATE OF
ALICE L. HOLMES,
DECEASED
: IN THE COURT OF COMMON PLEAS
: CUMBERLAND COUNTY, PENNSYLVANIA
: ORPHANS' COURT DIVISION
: No.: 00514 of 2006
ESTATE OF
GEORGE C. HOLMES,
DECEASED
CONSENT TO FAMILY SETTLEMENT AGREEMENT
THE UNDERSIGNED, EDWARD A. PRESTON, hereby consents to and joins in
this Family Settlement Agreement (the "Agreement"), for the purposes expressed
therein, and acknowledges receipt of a Cq.Of the Agreement and all Exhibits thereto.
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EDWARD A. PRESTON
COMMONWEALTH OF PENNSYLVANIA
: ss:
COl)NTY OF .4LLEGfI.!:NY
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On this ~ 7')~aay of f4-f/(( /L ,2007 before me, the undersigned
officer, personally appeared EDWARD A. PRESTON, known to me (or satisfactorily
proven) to be the person whose name is subscribed to the within instrument, and
acknowledged that he executed the same for the purposes therein contained.
IN WITNESS WHEREOF, I hereunder set my hand and official seal.
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Notary R' lic
COMMONWEALTH OF PENNSYLVANIA
Notarial Seal
Jean McBride. Notary Pub/ic
City Of Pittsburgh, Allegheny County
-10- My Commission Expires July 12, 2008
Member, Pennsylv~n!" Pl~"\Jda!!r,H1 Of Notaries
IN THE MATTER OF THE
ESTATE OF
ALICE L. HOLMES,
DECEASED
: IN THE COURT OF COMMON PLEAS
: CUMBERLAND COUNTY, PENNSYLVANIA
: ORPHANS' COURT DIVISION
: No.: 00514 of 2006
ESTATE OF
GEORGE C. HOLMES,
DECEASED
CONSENT TO FAMILY SETTLEMENT AGREEMENT
THE UNDERSIGNED, LAURENE L. HOLMES PROUDFOOT, hereby consents
to and joins in this Family Settlement Agreement (the "Agreement"), for the purposes
expressed therein, and acknowledges receipt of a copy of the Agreement and all
Exhibits thereto.
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., LAURENE L~ HOLMES PROUDFOOT'
COMMONWEALTH OF PENNSYLVANIA
: ss:
COUNTY OF CUMBERLAND
On this, 30 day of fkr; I ' 2007 before me, the undersigned
officer, personally appeared LAU ENE L. HOLMES PROUDFOOT, known to me (or
satisfactorily proven) to be the person whose name is subscribed to the within
instrument, and acknowledged that she executed the same for the purposes therein
contained.
IN WITNESS WHEREOF, I hereunder set my hand and official seal.
COMMONWEALTH OF PENNSYLVANIA
NOTARIAL SEAL
STEPHANIE NEBL, Notary Publi tary
Camp Hill Bora, Cumberland County
My Commission Expires Jan. 25. 2011
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IN THE MATTER OF THE
ESTATE OF
ALICE L. HOLMES,
DECEASED
: IN THE COURT OF COMMON PLEAS
: CUMBERLAND COUNTY, PENNSYLVANIA
: ORPHANS' COURT DIVISION
: No.: 00514 of 2006
ESTATE OF
GEORGE C. HOLMES,
DECEASED
CONSENT TO FAMILY SETTLEMENT AGREEMENT
THE UNDERSIGNED, MARSHEELAH M. PRESTON, individually, as Executor
of the Probate Estate of Alice L. Holmes, deceased, and as Executor of the Probate
Estate of George C. Holmes, deceased, hereby consents to and joins in this Family
Settlement Agreement (the "Agreement"), for the purposes expressed therein, and
acknowledges receipt of a copy of the Agreement and all Exhibits thereto.
:1YJ~ PA-o~
MARSHEELAH M. PRESTON
COMMONWEALTH OF PENNSYLVANIA
: ss:
COUNTY OF CUMBERLAND
On thiScJ..~ day of ~ ,2007 before me, the undersigned
officer, personally appeared MARSHEELAH M. PRESTON, known to me (or
satisfactorily proven) to be the person whose name is subscribed to the within
instrument, and acknowledged that she executed the same individually and in the
fiduciary capacities indicated above for the purposes therein contained.
IN WITNESS WHEREOF, I hereunder set my hand and official seal.
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Nota Public
COMMONWEALTH OF PENNSYLVANIA
-12- NOTARIAL SEAL
CYNTHIA J. RULE. Notary Public
I.emoyne 8010.. CwnberIand County
CommIstion . F IV 3. 2008
EXHIBIT A
REGISTER OF WILLS
CUMBERLAND County, Pennsylvania
CERTIFICATE OF GRANT OF LETTERS
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No. 2006-00514 PA No. 21-06-0514
Es ta te Of: ALICE L HOLMES
(First, Middle, Lastl
Late Of:
HAMPDEN TOWNSHIP
CUMBERLAND COUNTY
Deceased
Social Securi ty No: 194-16-4775
WHEREAS, on the 9th day of June 2006 instruments dated:
May 26th 1999 Apri/3rd 2006 were admi tted
to probate as the last will and codicil of ALICE L HOLMES
(First, Middle, Lastl
la te of HAMPDEN TOWNSHIP, CUMBERLAND County,
who died on the 23rd day of May 2006 and,
WHEREAS, a true copy of the will &codicil as probated is annexed hereto.
THEREFORE, I, GLENDA FARNER STRASBAUGH , Register of Wills in and
for CUMBERLAND County, in the Commonwealth of Pennsylvania, hereby
certify that I have this day granted Letters TESTAMENTARY to:
MARSHEELAH PRESTON
who has duly qualified as EXECUTOR(RIX)
and has agreed to administer the estate according to law, all of which
fully appears of record in my office at CUMBERLAND COUNTY COURT HOUSE,
CARLISLE, PENNSYL VANIA.
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed the seal
of my office on the 9th day of June 2006.
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Deputy
**NOTE** ALL NAMES ABOVE APPEAR (FIRST, MIDDLE, LAST)
SHe\ WILLS JfOLMESA.WIL
january 12, 1999
LAST WILL AND TESTAMENT
OF
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ALICE L. HOLMES
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I, ALICE L. HOLMES, of Camp Hill, Cumberland County, Pennsylvania, being of ' sound ang
disposing mind, memory and understanding, do hereby make, publish and declare this my Last Will ami
Testament, hereby revoking any and all prior Wills and Codicils thereto by me at anytime here1(}IQre made?
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1. FAMILY.
1.1 Identification of Family. I declare that I am married to GEORGE C. HOLMES and that
there are three (3) children (as herein defined) of this marriage: LAURENE L. HOLMES,
MARSHEELAH M. PRESTON, and ALLEN K. HOLMES.
1.2 Definition of Family Terms. As used in this Will, the term "my spouse" or "my husband"
shall mean only GEORGE C. HOLMES. As used in this Will, the terms "my child" or
"my children" refers to all my natural children or adopted children. As used in this Will,
the term "issue" refers to all lineal descendants of the indicated person of all generations,
with the relationship of parent and child at each generation determined by the definition of
"children" set forth in this paragraph.
2. PAYMENT OF BURIAL EXPENSES AND DEBTS. I authorize my executor to pay all the
expenses of (1) a funeral or memorial service; (2) the interment of my remains, including the costs
of a gravesite, if necessary; and (3) the installation and inscription of a suitable marker at, and
perpetual care of, the gravesite. I further direct my executor to pay all of my debts that my executor
in his or her sole discretion may allow as claims against my estate.
3. DISPOSITION OF TANGIBI"E PERSONAL PROPERTY.
3.1 Disposition to Spouse. I give all of my tangible personal property of every kind and
description, including, but not limited to, books, pictures, clothing, articles of household or
personal use or adornment, household furnishings and effects, and automotive vehicles and
their accessories, but excluding any money, evidences of indebtedness, documents of title,
and securities and property used in connection with the operation of any trade or business,
to my spouse.
3.2 Alternative Disposition. If my spouse does not survive me by more than sixty (60) days
after the date of my death, and any of the hereinafter named persons survive me, I direct my
executor to divide my tangible personal property into two parts. The first part shall contain
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Alice L. Holmes
SHC\WTLLS\HOLMESA.WIL
January 12, 1999
all items that my executor determines, to be of no present or future value or use my children
or grandchildren named in this Section 3.2. The second part shall contain the balance of the
property. My executor shall dispose of the first part by sale, abandonment, destruction, or
gift to any charity or person. The proceeds of any sale shall be added to my residuary estate.
All property in the second part I give in substantially equal shares to: LAURENE L.
HOLMES, MARSHEELAH M. PRESTON, ALLEN K. HOLMES and EDWARD A.
PRESTON, to be divided among them as they shall agree. If any beneficiary is a minor,
the guardian of the person appointed for that beneficiary must agree to the division. !fno
agreement is reached within sixty (60) days after my death, all property in the second part
shall be divided among all the above named beneficiaries in such manner as my executor
shall direct. The decision of my executor shall be conclusive and binding on all persons
interested in my estate.
Any item of personalty passing to a minor under this Section 3.2 may be delivered to the
minor or to any person to hold for the minor, as my Executor thinks advisable, and the
receipt of any such persons, including the minor, shall constitute a full and complete
discharge to my Executor.
4. DISPOSITION OF RESIDUARY EST A TE.
4.1 Disposition to Spouse. All of the rest, residue and remainder of the property that I own at
the time of my death, both real and personal, and of every kind and description, wherever
situated, to which I may be legally or equitably entitled at the time of my death (my
"residuary estate"), I give outright and absolutely to my spouse, ifhe survives me.
4.2 In the event my spouse is not living on the sixtieth (60) day after the date of my death, I
leave all the rest, residue and remainder of the property that I own at the time of my death,
both real and personal, and of every kind and description, wherever situate, to which I may
be legally or equitably entitled at the time of my death (my "residuary estate") in equal
shares to: LAURENE L. HOLMES, MARSHEELA M. PRESTON, ALLEN K.
HOLMES and EDWARD A. PRESTON, who survive me, PROVIDED THAT, if either
MARSHEELA M. PRESTON or EDWARD A. PRESTON shall not survive me then
their share shall be divided in equal shares among the above named beneficiaries who
survive me; PROVIDED FURTIIER 1HA T, if any of the other herein named beneficiaries
shall predecease me, then I leave the share of that deceased beneficiaries in equal shares to
their then living issue, per stirpes. If all of the named beneficiaries shall predecease me and
none leave issue who survive me, then I leave the remainder of my estate in equal shares to
KATHY ZIEGLER and TRICIA WISLAND.
5. PO"TERS OF ADMI1\TfSTRA TION.
5.1 Grant of Powers. My executor, in the administration of my estate, (my "fiduciaries") shall
have the powers and authorities set forth in this Article 5. These powers and authorities
may be exercised by my executor and trustee in their sole and absolute discretion, without
the permission or order of any court. These powers shall be supplementary to those
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2 Alice L. Holmes
SHC\ WIT.-LS\HOL~ESA. WIL
January 12, 1999 --'
conferred by law, including, but not limited to, those set forth in Title 20, Chapter 33, of the
Pennsylvania Consolidated Statutes.
5.2 Retention of Assets. My fiduciaries shall have the power to retain any or all property of
my estate, however received and acquired, for so long as they deem appropriate. This
power may be exercised even though the property may not be of the type authorized by law
for investment, and even though the retention may leave a disproportionately large amount
of the value of my estate invested in one type of property.
5.3 Transfer of Assets. My fiduciaries shall have the power to sell, transfer, and convey any
property, of whatever nature, including real property, and wherever situated, that I may own
at the time of my death, or that may corne into my estate or after my death. The sale,
transfer, or conveyance may be by public or private sale, at such time, on such terms and
conditions, including selling price and credit, in such manner, and for any reason that my
fiduciaries deem appropriate, including, but not limited to, the purpose of obtaining net
proceeds to be distributed to my residuary beneficiaries.
5.4 Investment. My fiduciaries shall have the power to invest and reinvest any property in my
estate in preferred and common stocks, bonds, notes, common trust funds (including any
managed by any corporate fiduciary), interests in investments, trusts, mutual funds, leases,
mortgages on property wherever located, and, generally, in any property and in proportions
of property as my fiduciaries deem advisable, even though the investments are not of the
character or proportions authorized by applicable law for the investment of the funds.
5.5 Power to Borrow. My fiduciaries shall have the power to borrow money for any purpose,
for any periods of time, and on any terms and conditions as they deem advisable (including
the power to borrow from any corporate fiduciary), and to pledge, mortgage, or otherwise
encumber any property in my estate to secure repayment of any loan, as well as the power
to renew existing loans either as maker or endorser.
5.6 Power to Hold Property in Nominee Form. My fiduciaries shall have the power to hold
any property in the name of a nominee or in bearer form.
5.7 Distribution in Cash or in Kind. My fiduciaries shall have the power to make
distributions in cash or in kind, or partly in cash, in divided or undivided interests, as
amended, or other applicable law, and to determine which assets shall be sold and which
shall be distributed in kind, without notice to or consent by any beneficiary.
5.8 Distribution to Minors and Persons Under Disability. My fiduciaries shall have the
power to make distributions or payments to or for the benefit of any beneficiary who is a
minor, an incompetent, or who in the fiduciaries' judgment is incapacitated. The
distributions or payments shall be made in anyone or more ofthe following ways: (1)
directly to the beneficiary; (2) directly to the creditor in payment of the debts or expenses
of the beneficiary; (3) to the guardian of the person or estate of the beneficiary; (4) to any
custodial parent of a minor beneficiary; (5) to a custodian for the beneficiary under any law
related to gifts to minors, including to my fiduciaries in that capacity; or (6) to any other
person who shall have the care and custody of the person of the beneficiary. There shall be
~~~. or:ffi/!~-.-/
3 Alice L. Holmes
SHC\WILLS\HOLMESA.WIL
J<muary 12, 1999
no duty to see to the application of funds so paid, provided due care was exercised in the
selection of the person to whom the funds were paid, and the receipt of the person shall be
full acquittance of the fiduciaries.
5.9 Continuation or I Jquidation of Business. My fiduciaries shall have the power to continue
or to permit the continuation of any business, incorporated or unincorporated, in which I
may have any interest at the time of my death for any period of time, or to liquidate the
business on any terms as they deem appropriate. This power includes, but is not limited to
(1) the power to invest additional sums in any business, even to the extent that my estate
may be invested largely or entirely in the business, without liability for any loss resulting
from lack of diversification; (2) the power to act as or to select other persons to act as
directors, officers, or employees of any business, to be compensated without regard to being
a fiduciary under this Will; and (3) the power to make any other arrangements in regard to
any business as my fiduciaries shall deem proper.
5.10 Employment of Agents. My fiduciaries shall have the power to employ and pay the
compensation of any and all attorneys, agents, custodians, attorneys-in-fact, experts,
investment counsel, accountants, bookkeepers, or other agents or providers of services as
my fiduciaries deem advisable in the administration of my estate.
5.11 Commissions. My fiduciaries shall have the power to take reasonable commissions on
account at any time during the administration of my estate without the approval of any
beneficiary or of the court, but subject to allowance or disallowance on the settlement of the
final accounts of my fiduciaries.
5.12 Third Party Reliance. No person or corporation dealing with my executor shall be
required to see to the application of any property paid or delivered to my executor, or to
inquire into either the authority of my executor to enter into any transaction or the
expediency or propriety of any transaction entered into by my executor.
5.13 Charitable Donations. In the event that any of my tangible personal property is
donated to a charitable organization(s) then my fiduciary is instructed to use
the value of said donationes) as an inheritance tax deduction for any inheritance tax
return which may be required to be filed as a consequence of my death.
6. PAYMENT OF DEA TH TAXES.
6.1 Payment of Estate Taxes. I direct that all federal and Pennsylvania estate taxes payable
as a result of taxes assessed on property passing under this Will shall be paid from my
residuary estate as a part of the expenses of the administration of the estate.
6.2 Inheritance Tax. I direct that the Pennsylvania inheritance taxes payable as a result of my
death, limited to taxes assessed on property passing under this Will, shall be paid out of my
residuary estate and shall not be deducted or collected from any beneficiary under this Will
or other transferee.
4
&/-c~-/ /~~~
Alice L. Holmes
SHC\WJLLS\HOLMESA.WIL
January 12, 1999
7. EXECTTTOR
7.1 Appointment. I name, constitute, and appoint my spouse, GEORGE C. HOLMES, as
executor of my estate. If my spouse shall not survive me, shall not serve as executor for any
reason, or shall cease to serve as executor for any reason after appointment, ALLEN K.
HOLMES shall act as executor in his place.
7.2 Bond Not Required. None of the individuals named in Section 7.1 shall be required to
furnish a bond for the faithful performance of his duties as executor.
8. PRESUMPTION IN CASE OF SIMlJI,T ANEOlJS DEATH. For the purposes oftbisWill,
in determining whether a person has survived me or another person, (1) I shall be deemed to have survived
my spouse unless it unmistakably appears by proof that he predeceased me; and (2) in all other cases,
a person shall not be deemed to have survived me or another person ifhe or she dies within sixty (60)
days of my death or of the death of the other person.
9. LIABILITY OF EXECTTTOR My executor shall not at any time be liable for mistake oflaw or
of fact, or both law and fact, or errors of judgment, nor for any loss coming to any beneficiary under
this Will, or to any other persons, except through actual fraud or willful misconduct on the
part of the executor or trustee. My executor may, from time to time, consult with counsel with
respect to the meaning, construction, and operation of this Will, particularly with respect to the
appointments, allocations, and disbursements, and may act on the advice of counsel in all matters
without incurring liability on account of his or her actions.
10. INTERPRET A TION.
10.1 Will Not Contractual. My spouse and I are executing Wills at approximately the same
time, in which each of us is the primary beneficiary of the Will of the other. These Wills
are not being executed pursuant to any contract to make a Will or any contract not to revoke
a Will. The Will of each of us is revocable at any time, whether before or after the death
of the other spouse, at the sole discretion of the spouse making the Will.
10.2 Successors of Fiduciaries. All pronouns referring to an executor and the term "executor"
shall be construed to mean any person acting as my executor, co-executor, personal
representative, or administrator, as the case may be.
10.3 Number and Gender. Ifrequired by the context of this Will, singular language shall be
construed as plural, plural language shall be construed as singular, and the gender of
personal pronouns shall be construed as either masculine, feminine, or neuter.
10.4 Headings. All headings used in this Will to describe the contents of each article, paragraph,
or other division are provided for convenience only and shall not be construed to be a part
of this Will.
5
~/ x:.~~
Alice L. Holmes
SHe\ WILLS\HOLMESA.WIL
January 12, 1999
10.5 Governing Law. This Will shall be construed in conformity with the law of the
Commonwealth of Pennsylvania.
IN WITNESS WHEREOF, I have hereunto set my hand and seal to this, my Last Will and
Testament, consisting of seven (7) typewritten p'a~es, the first six (6 of which bear my signature in the
margin for the purpose of identification, this ~ ~ay of , 1999.
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ALICE L. HOLMES, TESTATRIX
Signed, sealed, published and declared by the above-named Testatrix, ALICE L. HOLMES, as and
for her Last Will and Testament, in the sight and presence of us, who, at her request, in her sight and
presence and in the sight and presence of each other, have hereunto subscribed our names as witnesses.
~~I ~ Adwess
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SHe\ WILLS\HOU. iESA. WIL
January 12, 1999
COMMONWEALTH OF PENNSYLVANIA
COUNTY OF CUMBERLAND
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I, ALICE L. HOLMES, THE TESTATRIX, WHOSE NAME IS SIGNED TO THE FOREGOING
INSTRUMENT, HAVING BEEN DULY QUALIFIED ACCORDING TO LAW, DO HEREBY
ACKNOWLEDGE THAT I SIGNED AND EXECUTED THE INSTRUMENT AS MY LAST WILL AND
TESTAMENT; THAT I SIGNED IT WILLINGLY; AND THAT I SIGNED IT AS MY FREE AND
VOLUNTARY ACT FOR THE PURPOSES THEREIN EXPRESSED.
SWORN ORAFF~R TO AND A~EDGED BEFORE ME BY ALICE L. HOLMES,
THETESTATRIXTHIS~DAYOF 111 ,1999.
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NOTARY PUBLIC
lNtiIfm;jal Seal
SilBii CiidIilmi, NOtary Public
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COMMONWEALTH OF PENNSYLVANIA )
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COUNTY OF CUMBERLAND )
WE, LAwtZENC.t:. KapP AND GeNEVA LEE
THE WITNESSES WHOSE NAMES ARE SIGNED TO THE FOREGOING INSTRUMENT, BEING
DULY QUALIFIED ACCORDING TO LAW, DEPOSE AND SAY THAT WE WERE PRESENT AND
SAW THE AFORESAID TESTATRIX SIGN AND EXECUTE THE INSTRUMENT AS HER LAST WILL
AND TESTAMENT; THAT SHE SIGNED WILLINGLY AND THAT SHE EXECUTED IT AS HER FREE
AND VOLUNTARY ACT FOR THE PURPOSES THEREIN EXPRESSED; THAT EACH OF US IN THE
HEARING AND SIGHT OF THE TESTATRIX SIGNED THE WILL AS WITNESSES; AND THAT TO
THE BEST OF OUR KNOWLEDGE THE TESTATRIX WAS AT THE TIME EIGHTEEN (18) OR MORE
YEARS OF AGE, OF SOUND MIND AND UNDER NO CONSTRAINT OR UNDUE INFLUENCE.
~WORN OR AFFIRMED TO AND SUBSCRIBED TO BEFORE ME, THIS Ql {p 'I!o-DAY OF
':::LLJ1lr,1999.
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Notarial Seal
GiGi Cullen, Notary Public
Camp Hill Bore, Cumberland Countv
My Commission Expires May 20, 2002
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NOTARY PUBLIC
E:\WPWin\W.tLs\Holmes.Alice.CodiciJ.wpd
l\1arch 31, 2006
FIRST CODICIL
OF
ALICE L. HOLMES
I, ALICE L. HOLMES, of Hampden Township, Cumberland County, Pennsylvania, being
of sound and disposing mind, memory and understanding, do hereby make, publish and declare this
my First Codicil to my Last Will and Testament dated May 26, 1999.
Paragraph Nine is specifically amended in its entirety as follows:
Paragraph Nine: APPOINTMENT OF EXECUTOR. I nominate and appoint
my daughter, Marsheelah Preston, executrix ofthis, my Will. Ifmy daughter shall fail to
survive me, shall decline to act, or having qualified shall, for any reason thereafter, cease
to act, I nominate and appoint my son, Allen K. Holmes, as the successor executor in her
place.
IN WITNESS WHEREOF, I have set my hand and seal to this, my First Codicil to my Last
,/'-
Will and Testament dated May 26, 1999 this '3 J' day of (l) P ('I I , 2006.
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ALICE L. HOLMES, Testatrix
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COMMONWEALTH OF PENNSYLVANIA )
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COUNTY OF )
I, ALICE L. HOLMES, THE TESTATRIX, WHOSE NAME IS SIGNED TO THE FOREGOING
INSTRUMENT, HAVING BEEN DULY QUALIFIED ACCORDING TO LAW, DO HEREBY
ACKNOWLEDGE THAT I SIGNED AND EXECUTED THE INSTRUMENT AS THE FIRST CODICIL
TO MY LAST WILL AND TEST AMENT; THAT I SIGNED IT WILLINGLY; AND THAT I SIGNED IT
AS MY FREE AND VOLUNTARY ACT FOR THE PURPOSES THEREIN EXPRESSED.
SWORN ORAFFIR~,EI?2'O AND ACKNOWLEDGED BEFORE ME BY ALICE L. HOLMES,
THETESTATRIXTHISJf" DAY OF b4--pvzJ ,2006.
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ALICE L. H~LMES,) TEST ATRlX
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NOTARY P LIC
COMMONWEALTH OF PENNSYLVANIA
Notarial Seal
Monica D. Zerchel', Notary Public
Camp Hill Boro. Cumberland County
My Commission Expires Feb. B. 2010
Member. Pennsylvania Association of Notaries
COMMONWEALTH OF PENNSYL VANIA )
: SS:'
COUNTY OF )
WE, ~t CLt...L . tkeY\, ...e~'\...4v.- ANDq.\ I' {\'\ m LR h Y"
THE WITNESSES WHOSE NAMES ARE SIGNED TO THE FOREGOING INSTRUMENT, BEING
DULY QUALIFIED ACCORDING TO LAW, DEPOSE AND SAY THAT WE WERE PRESENT AND
SAW THE AFORESAID TESTATRIX SIGN AND EXECUTE THE INSTRUMENT AS THE FIRST
CODICIL TO HER LAST WILL AND TESTAMENT; THAT SHE SIGNED WILLINGLY AND THAT
SflE EXECUTED IT AS HER FREE AND VOLUNTARY ACT FOR THE PURPOSES THEREIN
f:XPRESSED; THAT EACH OF US IN THE HEARING AND SIGHT OF THE TESTATRIX SIGNED
THE CODICIL AS WITNESSES; AND THAT TO THE BEST OF OUR KNOWLEDGE THE TESTATRIX
WAS AT THE TIME EIGHTEEN (18) OR MORE YEARS OF AGE, OF SOUND MIND AND UNDER
N.;OCONSTIWNT OR UNDUE INFLUENCE. . . .. .'
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SWORN OR AFFIRMED TO AND SUBSCRIBED. TO BEFORE ME, THIS ')v" DAY OF
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Notary Pu~lic
COMMONWEALTH OF PENNSYLVANIA
Notarial Seal
Monica D. Zercher. Notary Public
Camp Hill Boro. Cumberland County
My Commission Expires Feb. B. 2010
Member. Pennsylvania Association of Notaries
SH':\ WILLS'HOtMESG. WIL
May :1,1999
LAST WILL AND TEST AMENT
OF
GEORGE C. HOLMES
I, GEORGE C. HOLMES, of Camp Hill, Cumberland County, Pennsylvania, being of
sound and disposing mind, memory and understanding, do hereby make, publish and declare this my
Last Will and Testament, hereby revoking any and all prior Wills and Codicils thereto by me at
anytime heretofore made.
1. FAMILY.
1.1 Identification of Family. I declare that I am married to ALICE L. HOLMES and
that there are three (3) children (as herein defined) of this marriage: LAURENE L.
HOLMES, MARSHEELAH M. PRESTON, and ALLEN K. HOLMES.
1.2 Definition of Family Terms. As used in this Will, the term "my spouse" or "my
wife" shall mean only ALICE L. HOLMES. As used in this Will, the terms "my
child" or "my children" refers to all my natural children or adopted children. As used
in this Will, the term "issue" refers to all lineal descendants of the indicated person
of all generations, with the relationship of parent and child at each generation
determined by the definition of "children" set forth in this paragraph.
2. PAYMENT OF BURIAl, EXPENSES AND DEBTS. I authorize my executor to pay all
the expenses of (1) a funeral or memorial service; (2) the interment of my remains, including
the costs of a gravesite, if necessary; and (3) the installation and inscription of a suitable
marker at, and perpetual care of, the gravesite. I further direct my executor to pay all of my
debts that my executor in his or her sole discretion may allow as claims against my estate.
3. DISPOSITION OF TANGIBLE PERSONAl, PROPERTY.
3.1 Disposition to Spouse. I give all of my tangible personal property of every kind and
description, including, but not limited to, books, pictures, clothing, articles of
household or personal use or adornment, household furnishings and effects, and
automotive vehicles and their accessories, but excluding any money, evidences of
4,e~
. George C. Holmes
SHC\ WILLS\HOLMESG. WIL
May 21,1999
indebtedness, documents of title, and securities and property used in connection with
the operation of any trade or business, to my spouse.
3.2 Alternative Disposition. Ifmy spouse does not survive me by more than sixty (60)
days after the date of my death, and any child of mine survives me, I direct my
executor to divide my tangible personal property into two parts. The first part shall
contain all items that my executor determines, to be of no present or future value or
use to my children or grandchildren named in this Section 3.2. The second part shall
contain the balance of the property. My executor shall dispose of the first part by
sale, abandonment, destruction, or gift to any charity or person. The proceeds of any
sale shall be added to my residuary estate. All property in the second part I give in
substantially equal shares to: LAURENKL. HOLMES, MARSHEELAH M.
PRESTON, ALLEN K. HOLMES, and EDWARD A. PRESTON, to be divided
among them as they shall agree. If any beneficiary is a minor, the guardian of the
person appointed for that beneficiary must agree to the division. If no agreement is
reached within sixty (60) days after my death, all property in the second part shall be
divided among the beneficiaries in such manner as my executor shall direct. The
decision of my executor shall be conclusive and binding on all persons interested in
my estate.
Any item of personalty passing to a minor under this Section 3.2 may be delivered
to the minor or to any person to hold for the minor, as my Executor thinks advisable,
and the receipt of any such persons, including the minor, shall constitute a full and
complete discharge to my Executor.
4. DISPOSITION OF RESIDUARY ESTATE.
4.1 Disposition to Spouse. All of the rest, residue and remainder ofthe property that I
own at the time of my death, both real and personal, and of every kind and
description, wherever situated, to which I may be legally or equitably entitled at the
time of my death (my "residuary estate"), I give outright and absolutely to my
spouse, if she survives me.
4.2 In the event my spouse is not living on the sixtieth (60) day after the date of my
death, I leave all the rest, residue and remainder of the property that I own at the time
of my death, both real and personal, and of every kind and description, wherever
situate, to which I may be legally or equitably entitled at the time of my death (my
"residuary estate") in equal shares to: LAURENE L. HOLMES, MARSHEELA
M. PRESTON, ALLEN K. HOLMES and EDWARD A. PRESTON, who
survive me, PROVIDED THAT, if either MARSHEELA M. PRESTON or
2
SHC\WILLS\HOLMESG.WIL
May '21, ]999
EDWARD A. PRESTON shall not survive me then their share shall be divided in
equal shares among the above named beneficiaries who survive me; PROVIDED
FURTHER THAT, if any of the other herein named beneficiaries shall predecease
me, then I leave the share of that deceased beneficiaries in equal shares to their then
living issue, per stirpes. If all of the named beneficiaries shall predecease me and
none leave issue who survive me, then I leave the remainder of my estate in equal
shares to TRICIA WISLAND and KATHY ZIEGLER
5. POWERS OF ADMINISTRATION.
5.2
5.3
5.4
5.1
Grant of Powers. My executor, in the administration of my estate, under this Will,
(my "fiduciaries") shall have the powers and authorities set forth in this Article 5.
These powers and authorities may be exercised by my executor in his/her sole and
absolute discretion, without the permission or order of any court. These powers shall
be supplementary to those conferred by law, including, but not limited to, those set
forth in Title 20, Chapter 33, ofthe Pennsylvania Consolidated Statutes.
Retention of Assets. My fiduciaries shall have the power to retain any or all
property of my estate, however received and acquired, for so long as they deem
appropriate. This power may be exercised even though the property may not be of
the type authorized by law for investment, and even though the retention may leave
a disproportionately large amount of the value of my estate invested in one type of
property .
Transfer of Assets. My fiduciaries shall have the power to sell, transfer, and convey
any property, of whatever nature, including real property, and wherever situated, that
I may own at the time of my death, or that may come into my estate at or after my
death. The sale, transfer, or conveyance may be by public or private sale, at such
time, on such terms and conditions, including selling price and credit, in such
manner, and for any reason that my fiduciaries deem appropriate, including, but not
limited to, the purpose of obtaining net proceeds to be distributed to my residuary
beneficiaries.
Investment. My fiduciaries shall have the power to invest and reinvest any property
in my estate in preferred and common stocks, bonds, notes, common trust funds
(including any managed by any corporate fiduciary), interests in investments, trusts,
mutual funds, leases, mortgages on property wherever located, and, generally, in any
property and in proportions of property as my fiduciaries deem advisable, even
though the investments are not of the character or proportions authorized by
applicable law for the investment of the funds.
1
/b C~
~ George C. Holmes
3
SHC\WILLS\HOLMESG.WIL
May 21,1999
5.5 Power to Borrow. My fiduciaries shall have the power to borrow money for any
purpose, for any periods of time, and on any terms and conditions as they deem
advisable (including the power to borrow from any corporate fiduciary), and to
pledge, mortgage, or otherwise encumber any property in my estate to secure
repayment of any loan, as well as the power to renew existing loans either as maker
or endorser.
5.6 Power to Hold Property in Nominee Form. My fiduciaries shall have the power
to hold any property in the name of a nominee or in bearer form.
5.7 Distribution in Cash or in Kind. My fiduciaries shall have the power to make
distributions in cash or in kind, or partly in cash, in divided or undivided interests,
as amended, or other applicable law, and to determine which assets shall be sold and
which shall be distributed in kind, without notice to or consent by any beneficiary.
5.8 Distribution to Minors and Persons Under Disability. My fiduciaries shall have
the power to make distributions or payments to or for the benefit of any beneficiary
who is a minor, an incompetent, or who in the fiduciaries' judgment is incapacitated.
The distributions or payments shall be made in anyone or more of the following
ways: (1) directly to the beneficiary; (2) directly to the creditor in payment of the
debts or expenses of the beneficiary; (3) to the guardian of the person or estate of the
beneficiary; (4) to any custodial parent of a minor beneficiary; (5) to a custodian for
the beneficiary under any law related to gifts to minors, including to my fiduciaries
in that capacity; or (6) to any other person who shall have the care and custody of the
person of the beneficiary. There shall be no duty to see to the application of funds
so paid, provided due care was exercised in the selection of the person to whom the
funds were paid, and the receipt of the person shall be full acquittance of the
fiduciaries.
5.9 Continuation or Liquidation of Business. My fiduciaries shall have the power to
continue or to permit the continuation of any business, incorporated or
unincorporated, in which I may have any interest at the time of my death for any
period of time, or to liquidate the business on any terms as they deem appropriate.
This power includes, but is not limited to (1) the power to invest additional sums in
any business, even to the extent that my estate or the trust corpus may be invested
largely or entirely in the business, without liability for any loss resulting from lack
of diversification; (2) the power to act as or to select other persons to act as directors,
officers, or employees of any business, to be compensated without regard to being
a fiduciary under this Will; and (3) the power to make any other arrangements in
regard to any business as my fiduciaries shall deem proper.
4
~<,d~
/ George C. Holmes
SHC\WILLS\HOLMESG.WIL
May 21,1999
5.10 Employment of Agents. My fiduciaries shall have the power to employ and pay the
compensation of any and all attorneys, agents, custodians, attorneys-in-fact, experts,
investment counsel, accountants, bookkeepers, or other agents or providers of
services as my fiduciaries deem advisable in the administration of my estate.
5.11 Commissions. My fiduciaries shall have the power to take reasonable commissions
on account at any time during the administration of my estate without the approval
of any beneficiary or of the court, but subject to allowance or disallowance on the
settlement of the final accounts of my fiduciaries.
5.12 Third Party Reliance. No person or corporation dealing with my executor shall be
required to see to the application of any property paid or delivered to my executor,
or to inquire into either the authority of my executor to enter into any transaction or
the expediency or propriety of any transaction entered into by my executor.
5.13 Charitable Donations. In the event that any of my tangible personal property is
donated to a charitable organization(s) then my fiduciary is instructed to use
the value of said donationes) as an inheritance tax deduction for any inheritance tax
return which may be required to be filed as a consequence of my death.
6. PAYMENT OF DEATH TAXES.
6.1 Payment of Estate Taxes. I direct that all federal and Pennsylvania estate taxes
payable as a result of taxes assessed on property passing under this Will shall be paid
from my residuary estate as a part of the expenses of the administration of the estate.
6.2 Inheritance Tax. I direct that the Pennsylvania inheritance taxes payable as a result
of my death, limited to taxes assessed on property passing under this Will, shall be
paid out of my residuary estate and shall not be deducted or collected from any
beneficiary under this Will or other transferee.
7. EXECUTOR.
7.1 Appointment. I name, constitute, and appoint my spouse, ALICE L. HOLMES as
executor of my estate. If my spouse shall not survive me, shall not serve as executor
for any reason, or shall cease to serve as executor for any reason after appointment,
ALLEN K. HOLMES shall act as executor in her place.
5
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George C. Holmes
SHC\WILLS\HOLMESG.WIL
May 11,1999
7.2 Bond Not Required. None of the individuals named in Section 7.1 shall be required
to furnish a bond for the faithful performance of his or her duties as executor.
8. PRESUMPTION IN CASE OF SIMULT ANEOUS DEATH. For the purposes of this
Will, in determining whether a person has survived me or another person, (1) my spouse
shall be deemed to have survived me unless it unmistakably appears by proof that she
predeceased me; and (2) in all other cases, a person shall not be deemed to have survived me
or another person ifhe or she dies within sixty (60) days of my death or ofthe death of the
other person.
9. LIABII,ITY OF EXECUTOR. My executor shall not at any time be liable for mistake of
law or of fact, or both law and fact, or errors of judgment, nor for any loss coming to any
beneficiary under this Will, or to any other persons, except through actual fraud or willful
misconduct on the part of the executor. My executor may, from time to time, consult with
counsel with respect to the meaning, construction, and operation of this Will, particularly
with respect to the appointments, allocations, and disbursements, and may act on the advice
of counsel in all matters without incurring liability on account of his or her actions.
10. INTERPRETATION.
10.1 Will Not Contractual. My spouse and I are executing Wills at approximately the
same time, in which each of us is the primary beneficiary of the Will of the other.
These Wills are not being executed pursuant to any contract to make a Will or any
contract not to revoke a Will. The Will of each of us is revocable at any time,
whether before or after the death of the other spouse, at the sole discretion of the
spouse making the Will.
10.2 Successors of Fiduciaries. All pronouns referring to an executor and the terms
"executor" shall be construed to mean any person acting as my executor, co-executor,
personal representative, or administrator, as the case may be.
10.3 Number and Gender. If required by the context of this Will, singular language
shall be construed as plural, plural language shall be construed as singular, and the
gender of personal pronouns shall be construed as either masculine, feminine, or
neuter.
6
-4G~g~
SHC\WILLS\HOLMESG.WIL
May 21,1999
10.4 Headings. All headings used in this Will to describe the contents of each article,
paragraph, or other division are provided for convenience only and shall not be
construed to be a part of this Will.
10.5 Governing Law. This Will shall be construed in conformity with the law of the
Commonwealth of Pennsylvania.
Signed, sealed, published and declared by the above-named Testator, GEORGE C.
HOLMES, as and for his Last Will and Testament, in the sight and presence of us, who, at his
request, in his sight and presence and in the sight and presence of each other, have hereunto
subscribed our names as witnesses.
/7 ,
/.~
~z~a- -I;
~~~
7
SHe\ W~LLS\HOLMESG.WIL
May 21,1999
COMMONWEALTH OF PENNSYL VANIA )
: SS.
COUNTY OF CUMBERLAND )
I, GEORGE C. HOLMES, THE TESTATOR, WHOSE NAME IS SIGNED TO THE
FOREGOING INSTRUMENT, HAVING BEEN DUL Y QUALIFIED ACCORDING TO LAW, DO
HEREBY ACKNOWLEDGE THAT I SIGNED AND EXECUTED THE INSTRUMENT AS MY LAST
WILL AND TESTAMENT; THAT I SIGNED IT WILLINGLY; AND THAT I SIGNED IT AS MY FREE
AND VOLUNTARY ACT FOR THE PURPOSES THEREIN EXPRESSED.
COMMONWEALTH OF PENNSYLVANIA )
: SS.
COUNTY OF CUMBERLAND )
WE, LAwRENCE f(opp AND beNEVA L.EE
THE WITNESSES WHOSE NAMES ARE SIGNED TO THE FOREGOING INSTRUMENT, BEING
DULY QUALIFIED ACCORDING TO LAW, DEPOSE AND SAY THAT WE WERE PRESENT AND
SAW THE AFORESAID TESTATOR SIGN AND EXECUTE THE INSTRUMENT AS HIS LAST WILL
AND TESTAMENT; THAT HE SIGNED WILLINGLY AND THAT HE EXECUTED IT AS HIS FREE
AND VOLUNTARY ACT FOR THE PURPOSES THEREIN EXPRESSED; THAT EACH OF US IN THE
HEARING AND SIGHT OF THE TESTATOR SIGNED THE WILL AS WITNESSES; AND THAT TO
THE BEST OF OUR KNOWLEDGE THE TESTATOR WAS AT THE TIME EIGHTEEN (18) OR MORE
YEARS OF AGE, OF SOUND MIND AND UNDER NO CONSTRAINT OR UNDUE INFLUENCE.
~SWORN OR AFFIRMED TO AND SUBSCRIBED TO BEFORE ME, TIllS ~AY OF
LUo..o ' 1999. ,0 /'
. (~6?1,,'1~-:TtC( v (;i. ,.
ifNE /
Notarial Seal
Gj~i Cullen, Notary Public
Camp HlI! B!,ro, Cumberland County
My G.""",,,,,,," '''';''' May 20,200 ~ c# 0/.1 ~
N TARY PUBLIC
JAMldlblrelholmes.nol
~ovemb"r 12, 1998
NOTE
December 31, 1998
CAMP fiLL, PENNSYLVANIA
2139 MARKF.T STRF.F.T. CAMP HTH" PF.NNSYI.VANJA ]7011
(Property Address)
1. BORROWER'S PROMISE TO PAY
In return for a loan that I have received, I promise to pay U.S. $140,000.00 (this amount is called "principal"), plus
interest, to the order of the Lender. The Lender is GEORGE C. HOLMES. I understand that the Lender may transfer this
Note. The Lender or anyone who takes this Note by transfer and who is entitled to receive payments under this Note is called
the "Note Holder. "
2. INTEREST
Interest will be charged on unpaid principal until the full amount of principal has been paid. I will pay interest at
a yearly rate of 6.0%.
The interest rate required by this Section 2 is the rate I will pay both before and after any default described in Section
6(B) of this Note.
3. PAYMENTS
(A) Time and Place of Payments
I will pay principal and interest by making payments every month.
I will make my monthly payments on the 1st day of each month beginning on February I, 1999. I will make
these payments every month until I have paid all of the principal and interest and any other charges described below that I
may owe under this Note. My monthly payments will be applied to interest before principal. On February I, 2019, I will
pay the outstanding amount of principal and interest in full on that date, which is called the "maturity date."
I will make my monthly payments at IS South 27th Street, Camp Hill, PA 17011, or at a different place
if required by the Note Holder.
At the option of the Holder, the principal and interest outstanding on January I, 2009, and January I of each
succeeding year, may be declared due and payable by written notice to Borrower.
(B) Amount of Monthly Payments
My monthly payment will be in the amount of U.S. $1,003.01.
4. BORROWER'S RIGHT TO PREPAY
I have the right to make payments of principal at any time before they are due. A payment of principal only is known
as a "prepayment." When I make a prepayment, I will tell the Note Holder in writing that I am doing so.
I may make a full prepayment or partial prepayments without any prepayment charge. The Note Holder will use all
of my prepayments to reduce the amount of principal that I owe under this Note. If I make a partial prepayment, there will
be no changes in the due date or in the amount of my monthly payment unless the Note Holder agrees in writing to those
charges.
S. LOAN CHARGES
If a law, which applies to this loan and which sets maximum loan charges, is finally interpreted so that the interest
or other loan charges collected or to be collected in connection with this loan exceed the permitted limits, then: (I) any such
loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (ii) any sums already
collected from me which exceeded permitted limits will be refunded to me. The Note Holder may choose to make this refund
by reducing the principal I owe under this Note or by making a direct payment to me. If a refund reduces principal, the
reduction will be treated as a partial prepayment.
6. BORROWER'S FAILURE TO PAY AS REQUIRED
(A) Late Charge for Overdue Payments
If the Note Holder has not received the full amount of any monthly payment by the end of 15 calendar days
after the date it is due, I will pay a late charge to the Note Holder. The amount of the charge will be 5 % of my overdue
payment of principallli'ld interest. ! will pay this late charge promptly but only once on each late payment.
(B) Default
If I do not pay the full amount of each monthly payment on the date it is due, I will be in default.
(C) Notice of Default
If I am in default, the Note Holder may send me a written notice telling me that if I do not pay the overdue
amount by a certain date, the Note Holder may require me to pay immediately the full amount of principal which has not been
paid and all the interest that I owe on that amount. That date must be at least 30 days after the date on which the notice is
delivered or mailed to me.
(D) No Waiver By Note Holder
Even if, at a time when 1 am in default, the Note Holder does not require me to pay immediately in full as
described above, the Note Holder will still have the right to do so if I am in default at a later time.
Jt.Mldlblrell ,o/mes.n.)t
November 12./998
(E) Payment of Note Holder's Costs and Expenses
If the Note Holder has required me to pay immediately in full as described above, the Note Holder will have
the right to be paid back by me for all of its costs and expenses in enforcing this Note to the extent not prohibited by applicable
law. Those expenses include, for example, reasonable attorneys' fees.
7. GIVING OF NOTICES
Unless applicable law requires a different method, any notice that must be given to me under this Note will be given
by delivering it or by mailing it by first class mail to me at the Property Address above or at a different address if I give the
Note Holder a notice of my different address. .
Any notice that must be given to the Note Holder under this Note will be given by mailing it by first class mail to
the Note Holder at the address stated in Section 3(A) above or at a different address if I am given a notice of that different
address.
8. OBLIGATIONS OF PERSONS UNDER THIS NOTE
If more than one person signs this Note, each person is fully and personally obligated to keep all of the promises
made in this Note, including the promise to pay the full amount owed. Any person who is a guarantor, surety or endorser
of this Note is also obligated to do these things. Any person who takes over these obligations, including the obligations of
a guarantor, surety or endorser of this Note, is also obligated to keep all of the promises made in this Note. The Note Holder
may enforce its rights under this Note against each person indiVidually or against all of us together. This means that anyone
of us may be required to pay all of the amounts owed under this Note.
9. WAIVERS
I and any other person who has obligations under this Note waive the rights of presentment and notice of dishonor.
"Presentment" means the right to require the Note Holder to demand payment of amounts due. "Notice of dishonor" means
the right to require the Note Holder to give notice to other persons that amounts due have not been paid.
10. UNIFORM SECURED NOTE
This Note is a uniform instrument with limited variations in some jurisdictions. In addition to the protections given
to the Note Holder under this Note, a Mortgage, Deed of Trust or Security Deed (the "Security Instrument"), dated the same
date as this Note, protects the Note Holder from possible losses which might result if I do not keep the promises which I make
in this Note. That Security Instrument describes how and under what conditions I may be required to make immediate
payment in full of all amounts I owe under this Note. Some of those conditions are described as follows:
Transfer of the Property or a Beneficial Interest in Borrower. If all or any
part of the Property or any interest in it is sold or transferred (or if a beneficial interest
in Borrower is sold or transferred and Borrower is not a natural person) without Lender's
prior written consent, Lender may, at its option, require irrunediate payment in full of all
sums secured by this Security Instrument. However, this option shall not be exercised by
Lender if exercise is prohibited by federal law as of the date of this Security Instrument.
If Lender exercises this option, Lender shall give Borrower notice of
acceleration. The notice shall provide a period of not less than 30 days from the date the
notice is delivered or mailed within which Borrower must pay all sums secured by this
Security Instrument. If Borrower fails to pay these sums prior to the expiration of this
period, Lender may invoke any remedies permitted by this Security Instrument without
further notice or demand on Borrower.
WITNESS THE HAND AND SEAL OF THE UNDERSIGNED.
~.(\ A-P <. i c 1l.. ~'=
{1>t/f; L .;jo~
Allen K. HolmesnBorrower
(Seal)
{Sign Original Only]
2
JAM\GIb\rc\hOlft'ICI-l.rdl
Nov~'f1\ba' 12. i\J91
/0.;1 ,(.,
MORTGAGE
CD
to "
c... .:-.
1. l r day of ~ in the year nineteen h:red;~
1'.) ~_
THIS INDENTURE, made the
ninety-eight (1998)
=0 "
:3
,n
BETWEEN ALLEN K, HOLMES
.... ..
Mortgikor ~.
c::> ,.
-.J
and GEORGE C. HOLMES
Mortgagee:
WHEREAS, the said Mortgagor, in and by certain Obligation or Writing Obligatory, under his
hand and seal, duly executed, bearing even date herewith stand bound unto the said Mortgagee in
the sum of One Hundred Forty Thousand Dollars ($140,000.00) lawful money of the United States
of America; conditioned that the said Mortgagor, his heirs, executors or administrators, shall and
do well and truly pay, or cause to be paid, unto the said Mortgagee, his certain attorneys,
executors, administrators or assigns, the sum of One Hundred Forty Thousand Dollars
($140,000.00), .. ..
(.
AND ALSO, from time to time, and at all times, until payment of said principal sum be made as
aforesaid keep the building. erected and to be erected upon the land herein described, insured for
the benefit of the Mortgagee, in some good and reliable Stock Insurance Company or Companies
to the amount of at least One Hundred Forty Thousand Dollars ($140,000.00), and to take no
insurance out on said buildings, not marked for the benefit of the Mortgagee; the further condition
of the said Obligation is such, that if at any time default shall be made in the payment of interest
or insurance premium as aforesaid, for the space of fifteen (15) days after any payment thereof
shall fall due, or if a breach of any other of the foregoing conditions be made by the said
Mortgagor, his heirs, executors, administrators or assigns, then and in such case, the said
. principal sum shall at the option of the said Mortgagee, his executors, administrators or assigns,
become due; and payment of the same, with the interest and costs of insurance due thereon, as
aforesaid, together with an attorney's commission of ten percent (10%) On the said principal sum,
besides costs of suit, may be enforced and recovered at once, anything therein contained to the
contrary thereof in anywise notwithstanding, as in and by the said recited Obligation and the
condition thereof (relation being thereunto had) may more fully and at large appear.
WITNESSETH that the said Mortgagor, as well for and in consideration of the said debt or sum
of dollars, and for the better securing the payment of the same with interest, as aforesaid. unto the
said Mortgagee, his executors, administrators or assigns in the discharge of the said recited
Obligation, as for and in consideration of the further sum of One Dollar, lawful money, aforesaid,
unto the said Mortgagor in hand well and truly paid by said Mortgagee, at or before sealing and
c
8ood512 rAGE 511
"
--T
JAM\dUl\re\holmes.2:.m.1
NO'H.mbcr 11. j991
......,
delivery hereof, the receipt whereof is hereby acknowledged. granted, bargained and sold,
released. and confirmed. and by these presents, does grant, bargain and sell, release and confirm
unto the said Mortgagee, his heirs and assigns
ALL THAT CERTAIN tract or parcel of land, with the buildings and improvements thereon
erected, situate in the Borough of Camp Hill, Cumberland County, Pennsylvania, bounded and
described in accordance with a survey and plan thereof made by William B. Whitlock, Registered
Professional Engineer of Harrisburg, PA, dated August 24, 1959, as follows:
BEGINNING at a point on the Southerly side of Market Street (fifty feet wide); said point being
274.15 feet East of the Southeast corner of Market and Twenty-Second Streets; thence extending
along the Southerly side of Market Street South 80 degrees 30 minutes East 82.5 feet to a point
in the center line of a fourteen feet wide alley; thence along said center line South 9 degrees, 30
minutes West 227.7 feet to a point on the Northerly side of a twelve feet wide alley; thence
extending along the Northerly side of said alley North 80 degrees 30 minutes West 82.5 feet to
a point a corner; thence North 9 degrees 30 minutes East 227.7 feet.to the point and place of
BEGINNING.
TOGETHER with all and singular the improvements, ways, waters, watercourses, rights.
liberties, privileges, hereditaments and appurtenances whatsoever unto the hereby granted
premises belonging, or in anywise appertaining, and the reversions and remainders, rents issues
and profits thereof;
TO HAVE AND TO HOLD the said hereditaments and premises granted, or mentioned amI
intended so to be with the appurtenances, unto the said Mortgagee, his heirs and assigns, to and
for the only proper use and behoof of the said Mortgagee, his heirs and assigns, forever:
AND it is hereby expressly certified and declared that this Indenlllre of Mortgage is junior and
subordinate. in both lien and payment, to a certain mortgage to secure the payment of the principal
sum of Two Hundred Five Thousand Dollars ($205,000.00) given by Pennsylvania State Bank to
the herein Mortgagee dated December 10, 1993, and recorded December 14, 1993. in the
Cumberland County Recorder of Deeds Office in Mortgage Book 1185. Page 177; and that the lien
of said Mortgage shall not be affected or impaired by a judicial sale under a judgment recovered
upon this indenture or upon the bond secured hereby; but any such sale shall be expressly
advertised and made subject to the lien of the said Mortgage.
AND the said Mortgagor, for his heirs and assigns do hereby covenant, promise and agree to and
with the said Mortgagee, his heirs, executors. administrators and assigns, that if the said
Mortgagor, his heirs or assigns. shall neglect or refuse to keep up the aforesaid insurance, it shall
be lawful for the said Mortgagee, his heirs, executors, administrators or assigns, to insure the said
building in a sum sufficient to secure payment of the said principal debt, in case of fire, and shall
recover the costs and expenses of such insurance in a suit upon this Mortgage.
2
Bood512 rAGt 512
J
JAMWlb\re\hGlmn.2.ml,
No.""", 11. 1m
PROVIDED always, nevertheless, that if the said Mortgagor, his heirs, executors, administrators,
or assigns, do and shall well and truly pay. or cause to be paid unto the said Mortgagee, his
executors, administrators or assigns, the said principal sum of One Hundred Forty Thousand
Dollars ($140,000.00), lawful money, aforesaid, on the day and time hereinbefore mentioned and
appointed for payment of the same, together with interest and costs and charges of insurance, as
aforesaid, and without any deduction, defalcation or abatement to be made of anything for or in
respect of any taxes, charges or assessments whatsoever, then and from thenceforth, as well this
present Indenture and the estate hereby granted, as the said recited Obligation, shall cease,
determine and become void, anything hereinbefore contained to the contrary thereof in anywise
notwithstanding. AND PROVIDED. also, that it shall and may be lawful for the said Mortgagee,
his executors, administrators or assigns, when and as soon as the said principal sum shall, in any
event, become due and payable, as aforesaid, an Action of Mortgage Foreclosure may be properly
commenced upon this Indenture of Mortgage. and proceed thereon to judgment and execution for
the recovery of said principal sum and all interest due thereon, and the costs and expenses of
insurance, as aforesaid. together with an attorney's fee of ten percent (10%) on said principal sum,
besides cost of suit, without stay of or exemption from execution or other process. with a full
release of errors; any law, rule of court, or usage to the contrary notwithstanding.
IN WITNESS WHEREOF, the said party of ilie first part has to these presents set his hand and
seal, the day and year first above written.
SIGNED, SEALED AND DELIVERED
IN THE PRESENCE OF
IjA. .~~ {. 4l..---c
~/~
ALL N K. HOLM
CERTIFICATE OF RESIDENCE
I hereby certify that the precise address of the Mortgagee herein is as follows:
Attorney or Agent for Mortgagee
3
Bood512 rAGE 513
SUMMARY OF ACCOUNT
Estate of Alice L. Holmes
For Period 5/23/2006 Through 4/24/2007
Page
Principal
Receipts
Net Gain (or Loss) on Sales or Other Dispositions
Other Receipts
Less Disbursements
Other Liabilities
Administration Expenses (Prin)
Fees and Commissions (Prin)
Funeral Expenses (Prin)
Other Expenses (Prin)
Balance before Distributions
Distributions to Beneficiaries
Principal Balance on Hand
For Information:
Investments Made
Changes in Investment Holdings
Income
Receipts
Less Disbursements
Balance before Distributions
Distributions to Beneficiaries
Income Balance on Hand
Combined Balance on Hand
1-3
4-5
6
6
6
7
7
8-9
10
11
11-13
14-15
Fiduciary
Acquisition
Value
$ 228,977.86
(50.20)
0.00
$ 228,927.66
$ 71.75
1,849.07
16,770.00
2,042.32
13,830.25
34,563.39
$ 194,364.27
52,234.82
$ 142,129.45
$ 6,473.19
0.00
$ 6,473.19
0.00
$ 6,473.19
$ 148,602.64
RECEIPTS OF PRINCIPAL
Estate of Alice L. Holmes
As of 4/24/2007
Assets Listed in Inventory
(Valued as of date of death)
Checking Accounts
Pennsylvania State Bank Checking Account No.
10001162
Common Stocks
Franklin Tempelton - Franklin Floating Rate Daily Access
Fund- Class A
1,241.314 Units
Certificates of Deposit
Pennsylvania State Bank
Certificate of Deposit No. 11435 000
Interest Rate 2.7%: Maturity Date 06/30/06
$31.30 Accrued Interest
Debt Instruments
Secured Note From Allen K. Holmes Dated December
31, 1998; 6.0% Interest, Due In Monthly Installments
Beginning On February 1, 1999; Maturity Date February
1, 2019
$395.48 Accrued Interest
Misc. Personal Property
2002 Buick Century
Refunds
Highmark - Health Insurance Premium Refund
U.S. Treasury - 2006 U.S. Individual Income Tax Refund
(Form 1040)
Commonwealth of Pennsylvania
2006 PA Individual Income TAx Refund (Form PA40)
Overpayment of Pennsylvania Inheritance Tax
$
454.01
$
30.00
$
$
75.00
135.07
Page 1
Fiduciary
Acquisition
Value
$ 37,778.42
$ 12,524.86
$ 12,729.07
$ 107,003.38
$ 10,000.00
$ 694.08
RECEIPTS OF PRINCIPAL
Estate of Alice L. Holmes
As of 4/24/2007
Assets Listed in Inventory
(Valued as of date of death)
Miscellaneous Property
Pennsylvania State Bank
IRA Account NO.1 0202 002
Beneficiaries: Marsheelah M. Preston, Allen K. Holmes,
Laurene L. Holmes Proudfoot and Edward Allen Preston,
Decedent's children and grandchild
Commonwealth of Pennsylvania
Unclaimed Property Notice re Demutualization of Met Life
Inc
Acacia Mutual Ife Insurance Company
Life Insurance Policy No. 965916
Conseco Senior Health Insurance Co - Long Term Care
Reimbursement of Medical Expense
Restitution Award
Common. V. Romo, Robin Louise
Cumberland County Docket No. CP-21-CR-0000927-2005
TOTAL INVENTORY
$ 42,234.82
$ 711.80
$ 4,706.00
$ 157.50
$ 14.99
Page 2
Fiduciary
Acquisition
Value
$ 47,825.11
$ 228,554.92
Receipts Subsequent to Inventory
(Valued when received)
RECEIPTS OF PRINCIPAL
Estate of Alice L. Holmes
As of 4/24/2007
01/17/2007 State Farm Insurance Companies - Refund Of Unused
Premium - Automobile Insurance
03/01/2007 Third Payment Re Restitution Award
Comm. V. Romo, Robin Louise
TOTAL RECEIPTS SUBSEQUENT TO INVENTORY
SUMMARY
Total Inventory
Total Receipts Subsequent To Inventory
TOTAL RECEIPTS OF PRINCIPAL
$
388.72
$
34.22
Page 3
$
422.94
$ 228,554.92
422.94
$ 228,977.86
GAINS AND LOSSES ON SALES OR OTHER DISPOSITIONS
Estate of Alice L. Holmes
For Period 5/23/2006 Through 4/24/2007
Gain
06/12/2006 Redeemed Certificate of Deposit - Collected Accrued
Interest
Page 4
Loss
Net Proceeds
Fiduciary Acquisition Value
$
31.30
31.30
Net Gain
$
0.00
06/12/2006 Redeemed Certificate of Deposit
Net Proceeds
Fiduciary Acquisition Value
$ 12,697.77
12,697.77
Net Gain
0.00
06/27/2006 Deposited Check From Conseco Senior Health Insurance
- Long Term Care Reimbursement
Net Proceeds
Fiduciary Acquisition Value
$
157.50
157.50
Net Gain
0.00
08/21/2006 Deposited Check From Highmark
Health Insurance Premium Refund
Net Proceeds
Fiduciary Acquisition Value
$
454.01
454.01
Net Gain
0.00
09/28/2006 Sold 1,274.628 shares Franklin Templeton Investments
Franklin Floating Rate Dilay Access Fund - Class A
1,274.628 Units
Net Proceeds
Fiduciary Acquisition Value
$ 12,810.01
12,860.21
Net Loss
10/24/2006 Collected Acacia Mutual Life INsurance Company
Life Insurance Proceeds
Net Proceeds
Fiduciary Acquisition Value
$
4,706.00
4,706.00
Net Gain
0.00
$
50.20
GAINS AND LOSSES ON SALES OR OTHER DISPOSITIONS
Estate of Alice L. Holmes
For Period 5/23/2006 Through 4/24/2007
1/17/2007 Deposited Refund Check From State Farm Insurance
Companies For Unused Automobile Insurance Premium
Net Proceeds
Fiduciary Acquisition Value
$
Gain
Page 5
Loss
388.72
388.72
Net Gain
0.00
Net Loss
$
$
50.20
DISBURSEMENTS OF PRINCIPAL
Estate of Alice L. Holmes
For Period 5/23/2006 Through 4/24/2007
Other Liabilities
Verizon
OS/26/2006 Verizon - Telephone Service
Citizens & Norhtern Bank - VISA Credit Card Account
07/09/2006 Citizens & Northern Bank - VISA Credit Card Account
Administration Expenses (Prin)
06/09/2006 Cumberland County Register of Wills, Agent
Filing Fees Will and Codicil $ 30.00
Automation Fee $ 5.00
Short Certificate $ 16.00
JCP Fee $ 10.00
07/09/2006 State Farm Insurance Companies- Automobile Insurance
12/08/2006 State Farm Insurance Companies - Automobile Insurance
03/02/2007 Register of Wills - Balance of Probate Fees
4/24/2007 Keeer Wood Allen & Rahal, LLP
Reserve For Miscellaneous Disbursements
4/24/2007 Register of Wills, Agent - Probate Fees For The Estate of
George C. Holmes, Deceased
Fees and Commissions (Prin)
06/09/2006 Register of Wills, Agent
Probate Fee
04/13/2007 Waggoner, Frutiger & Daub, LLP - Accountant's Fee For
The Preparation Of The 2006 Individual Income Tax
Returns
4/24/2007 Marsheelah M. Preston, Executrix Commissions
4/24/2007 Keefer Wood Allen & Rahal, LLP - Legal Fees
Page 6
$
33.44
38.31
$ 61.00
416.44
406.63
240.00
450.00
275.00
1,849.07
$
20.00
350.00
8,200.00
8,200.00
16,770.00
DISBURSEMENTS OF PRINCIPAL
Estate of Alice L. Holmes
For Period 5/23/2006 Through 4/24/2007
Funeral Expenses (Prin)
02/18/2007 Mauk & Yates Funeral Home, Inc.
02/18/2007 Allen K. Holmes - Reimbursement Of Funeral Reception
Other Expenses (Prin)
06/10/2006 Links 2 Care - Medical Expense
Week Ending 05/07/06 - $ 245.72
Week Ending 05/14/06 - $ 307.15
Week Ending OS/21/06 - $ 298.37
08/18/2006 Cardiovascular Surgical Inst. - Medical Expense
08/19/2006 Register of Wills, Agent
- Prepayment of Pennsylvania Inheritance Tax
02/16/2007 Allen K. Holmes
Reimbursement of Health Insurance Premium Paid To
Highmark
4/24/2007 Marsheelah M. Preston - Statutory Family Exemption
TOTAL DISBURSEMENTS OF PRINCIPAL
$
1,747.32
295.00
$
851.24
250.00
8,775.00
454.01
3,500.00
Page 7
$ 2,042.32
13,830.25
$ 34,563.39
DISTRIBL . IONS OF PRINCIPAL TO BENEFIC.. \RIES
Estate of Alice L. Holmes
For Period 5/23/2006 Through 4/24/2007
To: Marsheela M. Preston
Designated Beneficiary Of IRA
06/01/2006 Pennsylvania State Bank IRA
$ 10,558.70
To: Marsheela M. Preston
Tangible Personal Property
12/31/2006 Car
2,500.00
Total for Marsheela M. Preston
To: Edward Allen Preston
Designated Beneficiary Of IRA
06/01/2006 Pennsylvania State Bank IRA
10,558.71
To: Edward Allen Preston
Tangible Personal Property
12/31/2006 Car
2,500.00
Total for Edward Allen Preston
To: Laurene L. Holmes Proudfoot
Designated Beneficiary Of IRA
06/01/2006 Pennsylvania State Bank IRA
10,558.70
To: Laurene L. Holmes Proudfoot
Tangible Personal Property
12/31/2006 Car
2,500.00
Total for Laurene L. Holmes Proudfoot
To: Allen K. Holmes
Designated Beneficiary Of IRA
06/01/2006 Pennsylvania State Bank IRA
10,558.71
Page 8
$13,058.70
13,058.71
13,058.70
DISTRIBUTIONS OF PRINCIPAL TO BENEFICIARIES
Estate of Alice L. Holmes
For Period 5/23/2006 Through 4/24/2007
To: Allen K. Holmes
Tangible Personal Property
12/31/2006 Car
$
2,500.00
Total for Allen K. Holmes
TOTAL DISTRIBUTIONS OF PRINCIPAL TO BENEFICIARIES
Page 9
$13,058.71
$ 52,234.82
PRINCIPAL BALANCE ON HAND
Estate of Alice L. Holmes
As of 4/24/2007
Page 10
Current
Value
Carrying
Value
Checking Accounts
Pennsylvania State Bank
Checking Account No. 9150007900
$ 6,818.83
$ 6,818.83
Money Market Accounts
Pennsylvania State Bank - Money Market Account No.
9150007903
40,236.62
40,236.62
Debt Instruments
Secured Note From Allen K. Holmes Dated December
31, 1998; 6.0% Interest, Due In Monthly Installments
Beginning On February 1, 1999; Maturity Date February
1,2019
101,307.12
101,307.12
Refunds
u.S. Treasury - 2006 U.S. Individual Income Tax Refund
(Form 1040)
30.00 30.00
75.00 75.00
135.07 135.07
$148,602.64 $148,602.64
6,473.19 6,473.19
$142,129.45 $142,129.45
Commonwealth of Pennsylvania
2006 PA Individual Income TAx Refund (Form PA40)
Overpayment of Pennsylvania Inheritance Tax
Less: Income balance on hand
PRINCIPAL BALANCE ON HAND
INFORMATION SCHEDULES
Estate of Alice L.Holmes
For Period 5/23/2006 Through 4/24/2007
Investments Made
Pennsylvania State Bank - Money Market Account
06/12/2006 Established Money Market Account With Pennsylvania
State Bank
Changes in Investment Holdings
Franklin Tempelton
05/31/2006 Dividend Income
6.826 Units
06/30/2006 Dividend Income
6.372 Units
07/31/2006 Dividend Income
6.793 Units
08/31/2006 Dividend Income
6.982 Units
09/28/2006 Dividend Income
6.341 Units
09/28/2006 Sold 1,274.628 shares Franklin Templeton Investments
Franklin Floating Rate Dilay Access Fund - Class A
1,274.628 Units
Certificate of Deposit
06/12/2006 Redeemed Certificate of Deposit - Collected Accrued
Interest
06/12/2006 Redeemed Certificate of Deposit
Secured Note From Allen K. Holmes
09/12/2006 Interest
June, July, August and September 2006
09/12/2006 Received Principal Payment For June, July, August and
September 2006
Page 11
$ 39,548.41
$ 12,524.86
68.87
64.17
68.34
70.24
63.73
(12,860.21)
$ 0.00
$ 12,729.07
(31.30)
(12,697.77)
0.00
$ 107,003.38
(395.48)
(1,894.00)
INFORMATION SCHEDULES
Estate of Alice L. Holmes
For Period 5/23/2006 Through 4/24/2007
Page 12
09/30/2006 Received October 2006 Principal Payment $ (479.43)
10/31/2006 Received November Principal Payment $ (481.83)
11/30/2006 Received December Principal Payment $ (484.24)
12/31/2006 Received January 2007 Payment $ (486.66)
04/13/2007 Received and Deposited February and March Principal
Payments re Promissory Note From Allen Holmes $ (980.63)
04/13/2007 Received and Deposited April Principal Payment re
Promissory Note From Allen Holmes $ (493.99)
$ 101,307.12
Highmark - Health Insurance Premium Refund $ 454.01
08/21/2006 Deposited Check From Highmark
Health Insurance Premium Refund (454.01 )
0.00
State Farm Insurance Companies - Refund Of Unused Prem $ 388.72
1/17/2007 Deposited Refund Check From State Farm Insurance
Companies For Unused Automobile Insurance Premium (388.72)
0.00
Commonwealth of PA Unclaimed Property $ 711.80
02/21/2007 Received and Deposited Proceeds Of Claim For
Unclaimed Property (711.80)
0.00
Acacia Mutual Ife Insurance Company $ 4,706.00
10/24/2006 Collected Acacia Mutual Life INsurance Company
Life Insurance Proceeds (4,706.00)
0.00
Conseco Senior Health Insurance Co - Long Term Care $ 157.50
06/27/2006 Deposited Check From Conseco Senior Health Insurance
- Long Term Care Reimbursement (157.50)
0.00
INFORMATION SCHEDULES
Estate of Alice L. Holmes
For Period 5/23/2006 Through 4/24/2007
Page 13
Restitution Award $ 14.99
02/21/2007 Received And Depoisted Two Resitution Checks (14.99)
$ 0.00
II Restitution Award $ 34.22
04/13/2007 Received And Deposited Check For Third Restitution
Payment (34.22)
0.00
Verizon $ 33.44
OS/26/2006 Verizon - Telephone Service (33.44)
0.00
Citizens & Norhtern Bank - VISA Credit Card Account $ 38.31
07/09/2006 Citizens & Northern Bank - VISA Credit Card Account (38.31 )
0.00
Dividends
Franklin Tempelton
05/31/2006 Dividend Income
06/30/2006 Dividend Income
07/31/2006 Dividend Income
08/31/2006 Dividend Income
09/28/2006 Dividend Income
Total Dividends
Interest
RECEIPTS OF INCOME
Estate of Alice L. Holmes
For Period 5/23/2006 Through 4/24/2007
Pennsylvania State Bank Checking Account
06/12/2006 Interest Income
07/11/2006 Interest Income
Pennsylvania State Bank - Money Market Account
08/13/2006 Interest Income
09/11/2006 Interest Income
10/11/2006 Interest Income
11/09/2006 Interest Income
12/10/2006 Interest Income
01/10/2007 Interest Income
02/07/2007 Interest Income
03/12/2007 Interest Income
04/10/2007 Interest Income
Page 14
$ 68.87
64.17
68.34
70.24
63.73
335.35
$ 335.35
33.43
65.36
74.50
65.59
67.96
68.08
70.47
70.59
63.87
75.40
66.39
688.21
RECEIPTS OF INCOME
Estate of Alice L. Holmes
For Period 5/23/2006 Through 4/24/2007
Certificate of Deposit
06/12/2006 Interest Income
Secured Note From Allen K. Holmes
09/12/2006 Interest
June, July, August and September 2006
09/30/2006 Interest
10/31/2006 Interest
11/30/2006 Interest
12/31/2006 Interest
04/13/2007 Interest (February, March and April 2007)
Acacia Mutuallfe Insurance Company
10/02/2006 Interest On Life Insurance Proceeds
Total Interest
TOTAL RECEIPTS OF INCOME
$
11.38
1,722.52
523.57
521 .1 7
518.76
516.34
1,534.38
5,336.74
68.08
Page 15
$
$
6,137.84
6,473.19
IN THE MATTER OF THE
ESTATE OF
ALICE L. HOLMES,
DECEASED
: IN THE COURT OF COMMON PLEAS
: CUMBERLAND COUNTY, PENNSYLVANIA
: ORPHANS' COURT DIVISION
: No.: 00514 of 2006
ESTATE OF
GEORGE C. HOLMES,
DECEASED
FAMILY SETTLEMENT AGREEMENT
PROPOSED FINAL PRINCIPAL AND INCOME DISTRIBUTIONS
EXHIBIT "F"
TO: ALLEN K. HOLMES
1/4 interest in Secured Note From
Allen K. Holmes, Dated December 31, 1998;
6.0% Interest; Due February 1, 2019
1/4 of Request Refunds:
U.S. Treasury (Form 1040)
Commonwealth of P A (Form P A40)
Commonwealth ofPA (Form REV-1500)
Cash
Total To Allen K. Homes
TO: LAURENE HOLMES PROUDFOOT
1/4 interest in Secured Note From
Allen K. Holmes, Dated December 31,1998;
6.0% Interest; Due February 1, 2019
1/4 of Request Refunds:
U.S. Treasury (Form 1040)
Commonwealth of P A (Form P A40)
Commonwealth ofPA (Form REV-1500)
$ 25,326.78
$ 7.50
$ 18.75
$ 33.77
$ 11.763.86
$ 37,150.66
$ 25,326.78
$
$
$
7.50
18.75
33.77
Cash $ 11.763.86
Total To Laurene Holmes Proudfoot $ 37,150.66
TO: MARSHEELAH M. PRESTON
1/4 interest in Secured Note From
Allen K. Holmes, Dated December 31, 1998;
6.0% Interest; Due February 1, 2019
1/4 of Request Refunds:
U.S. Treasury (Form 1040)
Commonwealth of P A (Form P A40)
Commonwealth ofPA (Form REV-1500)
Cash
Total To Marsheelah M. Preston
TO: EDWARD A. PRESTON
1/4 interest in Secured Note From
Allen K. Holmes, Dated December 31, 1998;
6.0% Interest; Due February 1, 2019
1/4 of Request Refunds:
U.S. Treasury (Form 1040)
Commonwealth of P A (Form P A40)
Commonwealth ofPA (Form REV-1500)
Cash
Total To Edward A. Preston
Total Proposed Final Principal
and Income Distributions
$ 25,326.78
$ 7.50
$ 18.75
$ 33.77
$ 11.763.86
$ 37,150.66
$ 25,326.78
$148.602.64
PROOF OF PUBLICATION OF NOTICE
IN CUMBERLAND LAW JOURNAL
(Under Act No. 587, approved May 16, 1929), P. L.1784
COMMONWEALTH OF PENNSYLVANIA
SSe
COUNTY OF CUMBERLAND
Lisa Marie Coyne, Esquire, Editor of the Cumberland Law Journal, of the County and
State aforesaid, being duly sworn, according to law, deposes and says that the Cumberland Law
Journal, a legal periodical published in the Borough of Carlisle in the County and State aforesaid,
was established January 2, 1952, and designated by the local courts as the official legal
periodical for the publication of all legal notices, and has, since January 2, 1952, been regularly
issued weekly in the said County, and that the printed notice or publication attached hereto is
exactly the same as was printed in the regular editions and issues of the said Cumberland Law
Journal on the following dates,
VIZ:
August 25, and September 1, 8, 2006
Affiant further deposes that he is authorized to verify this statement by the Cumberland
Law Journal, a legal periodical of general circulation, and that he is not interested in the subject
matter of the aforesaid notice or advertisement, and that all allegations in the foregoing
statements as to time, place and character of publication are true.
Bolmes. Alice L.. dec'd.
Late of Hampden Township.
Executor: Marsheelah M. Pres-
ton. c/o Stephanie Kleinfelter,
Esquire, Keefer Wood Allen &
Rahal. LLP, 415 Fallowfield
Road, Suite 301, Camp Hill, PA
17011-4906.
Attorneys: Stephanie Kletnfelter,
Esquire, Keefer Wood Allen &
Rahal, LLP. 415 Fallowfield
Road. Suite 301. Camp Hill, PA
17011-4906.
SWORN TO AND SUBSCRIBED before me this
8 day of September. 2006
i NOT AR.I\L SEAL
~ LOIS E. SNYDER, Notary Public
~ Carlisle Boro. Cumberland Countv I
~ ~~()"""11iss:on ExnirP~' March 5. 2000
~~"-"</.f..'I1,,,,,~,\lij>>"f~"".;I_ "_~~",M!j~1fii ~J_ ....z::'~~
PROOF OF PUBLICATION
State of Pennsylvania, County of Cumberland
Tammy Shoemaker, Classified Advertising Manager, of The Sentinel, of the County
and State aforesaid, being du1y sworn, deposes and says that THE SENTINEL, a
newspaper of general circu1ation in the Borough of Carlisle, County and State
aforesaid, was established December 13th, 1881, since which date THE SENTINEL has
been regu1arly issued in said County, and that the printed notice or publication
attached hereto is exactly the same as was printed and published in the regu1ar editions
and issues of THE SENTINEL on the following day(s)
August 17, 24, 31, 2006
COpy OF NOTICE OF PUBLICATION
Affiant further deposes that he/she is not
interested in the subject matter of the
aforesaid notice or advertisement, and that
all allegations in the foregoing statement
as to time, place and character of
3:are~~~
U
Sworn to and subscribed before me this
31st. day of August 2006.
Cj(~:t~p., A u::t-
Notary Pu c
My commission expires: q /,!ttf'
COMMONWEALTH OF PENNSYLVANIA
Notarial Seal
Christina L. Wdtfe. Notary Pubfic
Car\iSle eom. Cumbe\'IaOO County
My CommIsSiOO Expires Sept. 1. 2008
Member. Pennsylvania Association Of Notaries